The FTSE 100 hovered near 8,830 on Monday, showing little change as investors stayed cautious amidst US-China trade talks in London.
In corporate news, Chip firm Alphawave surged 20% after agreeing to a $2.4B takeover by Qualcomm, while Spectris soared 60% on news of talks with Advent International.
Both offers came at big premiums, highlighting the gap between buyer valuations and the market’s view of UK-listed firms. Ad giant WPP said its CEO will step down this year, with its stock among the FTSE 100’s worst performers in 2025.
Diageo gained as European alcohol stocks rallied, while speculation about a BP takeover appears unlikely for now.
